X Your answer is incorrect. On January 1, Sunland Corporation had 199000 shares of $10 par value common stock outstanding. On June 17, the company declared a 12% stock dividend to stockholders of record on June 20. Market value of the stock was $ 12 on June 17. The entry to record the transaction of June 17 would include a credit to Cash for $ 286560. debit to Stock Dividends for $ 286560, credit to Common Stock Dividends Distributable for $ 95520 credit to Common Stock Dividends Distributable for $286560